Trust without 12aa

Tax queries 217 views 4 replies
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Ipcc
236 Points Joined April 2017

A trust just formed and apply for Pan, trsutee wanted to apply for 12AA but the cost of is to high ,my question is if Trust is without 12AA then what is the taxable liablities if their Recipits is RS 10 lakh And total Expenditure is Rs 7 lakh

Can A trust perfformed their activites without 12AA 

 

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On 06 July 2017 at 20:59 Report
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4 Points Joined May 2017
Yes and no tax ability was arises in this case
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On 06 July 2017 at 22:47
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Ipcc
236 Points Joined April 2017

how ? 300000 is net income which are higher the 250000 

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On 06 July 2017 at 23:01
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2 Points Joined July 2017
In case of Society not having 12A registration, it should be treated as a separate entity and should be allowed the benefit of basic exemption limit as available to an individual.
In your case Basic exemption slab available i.e Rs 2,50,000 .
50,000 is taxable income of your..
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On 07 July 2017 at 00:58
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4 Points Joined May 2017
Trust is eligible to claim exemption u/s 10(23)(c)
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On 07 July 2017 at 07:23


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